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I don't believe they were playing fast and loose
but
it's managements responsibility to know and anticipate
the industry and it's direction. Hamilton deal was a stinker given those conditions.
Now it's their responsibility to do what ever it takes to carry on
and thrive. It's easy when money is sloshing.
My gut tells me many of the panic sellers may have been staff that
got cut. I noticed the head count has shrunk. It's likely
some were buying shares as the shale revolution was under foot.
Don't know just a guess but those furious market order sells to .07 were
definitely emotional and sentiment has over sold the stock.
I met management and board members a few years ago at an annual meeting.
I believe they are all hard working honorable people. Sometimes
in business the tide turns against you and when it does you must let
go of ego and do what's right for everyone. We still have many employees most are
dads in the field that need to provide for their families
Happy Fathers Day!
The trick to win in this environment is
to zero out debt, reduce administrative costs while aggregating assets
so pricing structures remain competitive and employees feel secure.
Departing capital intensive marginal businesses like Sage is also a good move IMO.
Management needs to be keenly focused on the core business and aquiring that market share.
KIISS
S1 filing indicates we are paying the banksters 13.75%
which is unacceptable. This must be corrected.
Acquisitions can occur but not at the expense of the companies ability
to effectively compete. Acquisitions require much energy and costs to
integrate which distracts from core objectives:
WINNING MARKET SHARE.
The space is consolidating and if the balance sheet is strong others will come aboard
but we can no longer over pay for market share.
The Hamilton deal was bad timing but it is what is. The Hamiltons
should be happy, good time to cash out. It's in everyones long term interest to
pull together and wait this Geo-political game out and exploit the market weakness
and not succumb to the temptation to out grow competition in a compressing market
until margins stabilize. Let them come to you.
All JMO
yep..."former ownerS of AES
Look how many Billy Cox owns as well
management is stock deep so it's in their best interest to succeed.
I'll add down here over time as long as the dilution machine
does not rev up.
Geo play put a hitch in HIIT plans I think the World is waiting to see
how Iranian deal tuns out this month.
The market is looking for an excuse to sell off and there are many.
"Fat finger " ha more
like Fat Tony
With all due respect a vehicle allowance
is rather petty unless controls are comprehensive.
Company has spent a lot of money on R&D,
expansion and management to get the 44
million in Revs, it's simply time to settle in for a bit
and refine what we have. The "deals" will only get better if
we wait IMO.
Gross margins have drawn in
as the market has sought concessions
yet SG&A have ramped since the Hamilton acquisition last fall.
I don't see where management at any level has conceeded any
of their salaries to offset the compression not in the proxy
I just read. Maybe this is under way who knows.
I want to see
1) Management take salary cuts until net margins stabilize,, defer to stock compensation post split
2) Travel, perks, meals auxiliary expenses suspended. IE Road shows etc...none
3) Eliminate redundant non preforming assets and or divisions
4) Maximize equipment cross utilization
5) Consolidate facilities, office space and personal
The focus of acquisitions and mergers is to consolidate costs
and eliminate redundancies while increasing gross profits,,,right?
The growing gross numbers look nice and all but if this is just a job creation program
institutional investors on a "higher" exchange will not support it so what's the point.
Furthermore the "mystery RS number" is not helping either. Bidding here is just guess
work considering the vagueness of the 1-2 - 1-20 range.
Bottom Line for Me: RS is acceptable IF the results of that action are taken to increase share holder
value near term, I mean months not years, to exploit market weakness now. If the RS is to support further dilution to pay perks and salaries I will move on. I see no reason to RS the share structure unless it's accretive to share holders. It's managements responsibility to understand and anticipate the
dynamics within their industry and adjust accordingly to protect shareholders. Let's see what comes next.
Water stocks place to be right now
Not necessary Matt needs to get it together
and pull in any costs and synergize assets already
on board. Should only be spending where we are expanding
and profitable.
Receivables always slow when business tightens it's biz 101
We are generating 44 million in revs with a current 15 million market cap
excluding last deal.
1-20 is to extreme float would be microscopic and allow
management to dilute us further.
Matt needs to prove his metal here. There are no short cuts
Should be interesting summer for LNG
Go Shnaax...Can't even make this stuff up!
but Bill and Kathy AlverWest can
$1,800 in the bank followed by this latest filing
Lease Commitments
The Company gave up its leased office space in Jupiter, Florida in January 2014, and acquired a new office in Newport Beach, California. The Florida leaseholder obtained a judgment in the amount of $181,968 for the remainder of the monthly lease payments through June 2016 pursuant to the terms of the lease agreement plus legal fees of $1,487. The Company has recorded the full amount of the judgment, however believes that when the facility is re-leased it may not have to pay the full amount. Upon the leaseholder’s execution of a new lease with a new tenant, the Company plans to file for the release of the amount of the judgment over and above the actual loss incurred by the leaseholder. There is no guarantee the property will be re-leased or that such a filing will be successful and that the Company will be able to mitigate its loss in this way.
The Company’s Newport Beach, California lease term is one year commencing January 2014 at the rate of $1,439 per month. We believe that our existing facilities are adequate to meet our current needs and that suitable additional or alternative space will be available at this facility if needed. We have no assurance that future terms would be as favorable as our current terms. As of January 2015, the Company did not renew the lease, thereby converting to a month-to-month basis.
The Company has not invested in any real property at this time, nor does the Company intend to do so. The Company has no formal policy with respect to investments in real estate or investments with persons primarily engaged in real estate activities.
Legal
In 2011 Siesta Flow LLC filed a legal action against the Company in the Twelfth Circuit Court of Sarasota County, Florida, alleging breach of contract and seeking damages in the amount of $92,000 plus costs. In April of 2012, the court has issued final summary judgment against the Company in the total amount of $95,500. On April 27, 2012, the court issued an order to approve a settlement of the judgment issued against the Company. According to the terms of the approved settlement, a third party and a non-party to the legal action against the Company, agreed to purchase the claim of Siesta Flow LLC. in the amount of $75,000 and additional claims against the Company from other parties, for a total amount of $95,500 in exchange for the issuance of 19,100,000 shares of common stock by the Company, subject to certain limitations on the issuance of such shares set forth in settlement. The Company has recorded the settlement agreement at the market price of the stock on the date of issuance.
During the year ended June 30, 2013, the Company issued 14,384,000 shares of common stock with a market value of $7,562,500 in payment of the settlement. $1,719,000 was in satisfaction of the settlement payable and $5,843,000 was recognized as a loss on the settlement of this liability, which was netted to $5,799,000 by forgiven amounts of $44,000. At December 31, 2014 there is a balance of 4,716,000 common shares remaining to be issued under the settlement agreement. Under the agreement, the shares can be drawn upon at any time, provided that the number of shares of common stock of the Company beneficially owned by the purchaser of the Siesta Flow LLC's claim does not exceed 9.99%. The number of shares required to settle this liability is unchanged by the Company’s recent reversed spilt in the number of its issued and outstanding shares of common stock.
In June of 2013, a former officer of the Company filed a lawsuit against the Company and its President and directors alleging several counts, including a breach of contract and fiduciary duty, and seeking damages in the amount of $122,300 and other unspecified damages. The Company considers the lawsuit without any merit and will defend it vigorously. On September 18, 2013, the plaintiff filed a motion to compel early mediation. In February 2014 the parties attended a settlement conference; however, no settlement could be reached. As of December 31, 2014 the case was still pending.
11
On October 8, 2014, a former Director pled not guilty to charges by the U.S. Attorney’s office of 15 U.S.C. Sections 77e and 77x (Illegal Sales of Unregistered Securities) and 18 U.S.C. Section 2 (Aiding and Abetting and Causing an Act to be Done). The alleged violation pertains to January, 2012 when the Director caused the Company to issue shares of common stock pursuant to the Company's 2010 Equity Compensation Plan, as amended, registered on the registration statement on Form S-8, purportedly for certain consulting services provided to the Company. According to the charges, the actual intended purpose of such stock issuances was to raise capital for the Company through the sale of its stock. Shares registered on Form S-8 cannot be used by the issuer to raise capital for the issuer or to promote the issuer's stock price and are limited for the issuance to the issuer's employees, consultants, and advisors for bona fide services to the company. Our current management was not involved, had no knowledge of these allegations, and is conducting a thorough review and investigation of its policies and compliance procedures to discover any deficiencies in its internal controls.
On July 24, 2014, the Company, its Chairman and Chief Financial Officer received subpoenas from the Securities Exchange Commission (the “SEC”) that stated that the staff of the SEC is conducting an investigation In the Matter of PEI Worldwide and Certain Other Issuers, File No. HO 11576 and that the subpoena was issued to the Company, its Chairman and CFO as part of the foregoing investigation. The Company has no knowledge of PEI Worldwide. The SEC’s subpoena and accompanying letter do not indicate whether the Company (or its Chairman and CFO, respectively) is, or is not, under investigation. The Company has contacted the SEC’s staff regarding the subpoenas, and the Company is cooperating with the SEC. As of December 31, 2014, no further communication from the SEC has been received by the Company.
Note 6. Stockholders’ Deficit
The Company has authorized 200,000,000 shares of common stock with a par value of $0.001 and 25,000,000 shares of preferred stock with a par value of $0.001.
On October 28, 2013, the Company effected a 100 to 1 reverse split of its common stock that has been reflected in the Stockholders’ Deficit.
During the six months ended December 31, 2014 the Company issued 15,000 shares of common stock for services ($44,250).
At December 31, 2014 the Company had a balance of 4,716,000 common shares remaining to be issued in satisfaction of the settlement agreement. Under the agreement, the shares can be drawn upon at any time, provided that the number of shares of common stock of the Company beneficially owned by the purchaser of the Siesta Flow LLC's claim does not exceed 9.99%. The number of shares required to settle this liability is unchanged by the Company’s recent reversed spilt in the number of its issued and outstanding shares of common stock.
Non-Employee Stock Options and Warrants
The Company accounts for non-employee stock options and warrants under ASC 718, whereby option and warrant costs are recorded based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Unless otherwise provided for, the Company covers option and warrant exercises by issuing new shares.
There were no warrants or stock options issued or outstanding at December 31, 2014. All warrants issued in prior periods expired without being exercised.
12
Note 7. Loans from Directors and Shareholders
During the six months ended December 31, 2014, a shareholder advanced the Company an additional $42,509 which makes total loans payable $127,146. The loans are non-interest bearing and due on demand.
I suspect mergers happening above market
If
Uplist is in the equation
Just my guess
What am I missing...The Company valuation was determined based on a CDN$13,000,000 valuation at the USD$2 price used in the combination with the company's acquisition of BCS Solutions in November 2014.
Seems this should have a gap up event at some point
Thought under .50 was a bargain
ended up getting more under .40
undervalued here IMO but be patient
oil sentiment is still soft
What do "institutional" investors know that we don't?
Ha...That one had me twisted as well
Thanks
So someone invested above the market
at .40 and took preferred shares that can't
be registered unless they're converted through NASDQ
conversion or sale of the biz.
Hmmm somethings up. Annual meeting in June
maybe we hear by then.
Hey windough I need a CPA
or a shot of Tequila after reading the
entire 8k
help a dummy out and give me a synopsis plz
Wouldn't be doin it if
institutional types weren't on board
New tech might just have Big legs
I believe that vote would happen in mid June at annual
share holders meeting.
We shall see
Interesting Peak Oil theory:
Based upon declining assets which no one is really discussing
and I believe is understated to hold oil down.
http://finance.yahoo.com/news/return-peak-oil-worrying-signs-173406915.html
and the Rent is due
Your numbers are correct
sentiment is just off.
Seems some internal house keeping has been under way.
Maybe once that dust settles we see SP gap
and the chase is on.
ooor
Not:)
Haliburton President says: [...] it is our view that North America will continue to be the most adaptable market in terms of addressing well economics through both efficiency models and technology uptake. One way to look at it is that the US unconventional business is now the lowest cost, fastest to market incremental barrel of oil available in the world today.
Lets hope HII Technologies are a incremental part of that assumption
Street catching on to reoccurring
data revs. Bigger margins than harware
West Tx players on firm ground
noticed PXD DVN and others SP holding
and firms taking positions.
Lowest cost producing region should continue to
expand while high producer regions lag
"Total AXON and EVIDENCE.com bookings were $22.9 million in the first quarter of 2015, an increase of $17.0 million, or 288% compared to $5.9 million for the first quarter of 2014."
Good listen: Ex President of Shell
http://finance.yahoo.com/video/oil-may-push-past-100-131729837.html
Data storage revs are matrix to watch
going forward
Might explain stock action or
lack there of.
Seems to be a good move IMO
Industry players leading company, finance accounting guy
looking for more acquisitions.
Guess we wait n see
like to add more need more direction 1st
Just got scalped
Winning candidate for 2016 will endorse
the U.S. oil and gas revolution.
It's a matter of National security.
The Middle East is way too costly
in lives and treasure to continue to prop
up. Once the despots were removed years of brutal control
were destroyed. History has shown it takes decades to rebuild countries
and borders usually after much war.
Oil generation is in final throws IMO maybe 20 years
which poses grave troubles for oil producing countries
with little or no alternative industrial capacity
Technology is excellerating and we will have solar panels
charging batteries in our homes and cars.
Look up Fusion technology it's the future not Nuclear.
We did 35 million in what is a multi
billion dollar industry so I hope our services
can continue to expand even in low oil environment
Modest growth would prove the model
and give us guidelines for potential
expansion as oil firms up.
New tech is big cost saver and waste water injection
wells under massive scrutiny. Look at recent SMU study
in Texas.
There is zero Geo Political risk built into oil
which to me is insane.
It costs the Saudies mucho dinero to wage war
So new HII Tech versus old school.
These are the times when management has to prove
their metal and take market share.
We shall see
JMO of course
LNG exports only game in town
Look at the revs growth and share price chart last 2 years
Doesn't look like any of his deals
does it. Roth Capital on this one.
Nice activity today this ticker gets volume
we could see sizable gaps JMO
New technologies seem to be opening new doors
Rapid B / Hydro Flow combined with Recycling
could bring in cost savings and large cap exposure.
The numbers were good considering oil market conditions.
Seems they got pro active and rained in costs.
Company needs to expand new tech this year while everyone is
looking for efficiencies.
Technical default appears to be an accounting issue
the bank is still getting paid.
As for the SP I have no idea but it looks like value to me under .50
I got more picked up
40K since it crossed below .40
If 50 billion dollar market cap company
expands Rapid B / AES Hydro Flow or that tech migrates to
other large players it could be massive for little HIIT
New tech is all about validation. I'm looking for follow
on deals for validation.
We'll see soon I hope
I think it's GOOD or they wouldn't be road showing
next week.
wow need to put my glasses
on my last post sounds challenged
peso..ha ...meant preso as in presentation